Atlantic Edge Private Wealth Management LLC Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Atlantic Edge Private Wealth Management LLC trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,701 shares of the home improvement retailer’s stock after selling 35 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in Home Depot were worth $586,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HD. Bare Financial Services Inc bought a new stake in shares of Home Depot in the fourth quarter worth $26,000. Frank Rimerman Advisors LLC purchased a new stake in Home Depot during the 4th quarter worth about $27,000. Burkett Financial Services LLC purchased a new position in Home Depot in the fourth quarter worth $38,000. A.P. Gilfoyle & Co. L.P. bought a new stake in Home Depot during the 1st quarter valued at $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Home Depot in the fourth quarter worth $39,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HD. Wells Fargo & Company dropped their target price on Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. HSBC cut their price target on Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research report on Wednesday, May 15th. Truist Financial reduced their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Jefferies Financial Group initiated coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target on the stock. Finally, Loop Capital decreased their target price on Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $386.33.

Home Depot Stock Performance

Shares of Home Depot stock traded down $0.60 on Tuesday, reaching $373.51. 860,023 shares of the company were exchanged, compared to its average volume of 3,424,462. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company’s 50-day moving average is $353.93 and its two-hundred day moving average is $353.66. The firm has a market cap of $370.38 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 2.48 and a beta of 0.98. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the firm posted $4.65 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, research analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.